BLOCKCHAIN-BASED CROP INSURANCE SYSTEMUSING SMART CONTRACTS

Agriculture sector plays a pivotal role in the Indian economy, but farmers often face challenges like unpredictable weather, pest attacks, and erratic rainfall, leading to significant losses. Crop insurance is crucial to mitigate these risks and promote the welfare of farmers by providing coverage for pre-sowing and post-harvest losses due to natural calamities.However, the existing traditional methods of crop insurance in India suffer from complexities, high costs, and a lack of trust, deterring farmers from adopting these mechanisms. This project proposes an innovative blockchain-based crop index insurance solution to address these challenges.